Welcome to Extreme Investor Network, where we bring you the latest updates and insights on the stock market, trading, and all things related to Wall Street. Today, we have some exciting news to share about the Ripple vs. SEC case that has been making headlines.
Last week, Ripple Chief Legal Officer Stuart Alderoty made a significant announcement regarding the SEC vs. Ripple case. This declaration came after an SEC filing in the Binance case, where the SEC clarified that they will no longer refer to cryptos as crypto asset securities. However, the agency maintained that the promotions and economic realities of the Ten Crypto Assets at issue in secondary markets have not changed significantly under the Howey Test, indicating they are still being offered and sold as investment contracts.
The focus on the secondary markets in the SEC’s statement has led to speculation that the agency may still appeal the ruling on the Programmatic Sales of XRP. Back in July, Judge Analisa Torres ruled that programmatic sales of XRP do not meet the third prong of the Howey Test, marking a crucial point in the case.
Ripple and the SEC now have a 60-day appeal window following the final judgment date of August 7, 2024. The uncertainty surrounding the potential appeal has also impacted XRP price trends, with market analysts closely monitoring the situation.
XRP price trends are closely tied to the speculation around the SEC’s appeal plans. If the SEC decides to appeal the rulings in the Ripple case, XRP’s price could see a dip below $0.40. On the other hand, if the SEC chooses not to file an appeal notice, XRP could target $1.00, reflecting the market’s positive response to the Programmatic Sales of XRP ruling.
Stay tuned to Extreme Investor Network for more updates on the Ripple vs. SEC case and how it may impact the XRP price trends. Our expert analysis will keep you informed and help you make informed investment decisions in this evolving landscape.